Benefits Of Brand Management Explained

Brand Management is a broader and much more strategic activity of any company than marketing alone. It is an important aspect of marketing so much so that brand management is nothing less than a CEO’s responsibility in any company.

This management includes instilling a certain level of confidence in the minds of existing customers that the quality they expect from the line of products of the particular brand can be expected to continue. This has been known to increase sales by comparing the product with other brands, making a properly managed brand more favorable in the eyes of the investor.

A company that is well managed will be protected by trademark law, be easily recognized and associated with good quality products or services, thus making it easy to remember. The company will be easily pronounced in any language, if the product or service is an international one, and it will definitely attract attention when and wherever it is mentioned. Brand management will achieve all the above mentioned points effectively and will also make the brand stand out when placed among other competitive brands.

A single company may own many brands pertaining to a range of products. This makes brand management even more difficult, and at the same time, gains the confidence of the consumer more easily. A consumer aware of a certain brand, having used the product or service, will easily trust another product from the same company. So, marketers usually advertise the parent company along with the various brands associated with it.

This is commonly seen during a marketing campaign, for example, a hotel being advertised as ‘The Residency Hotel’ – An International Hotels holding. The International Hotels is the ‘mother brand’ and the ‘local brand’ will be the Residency Hotel. People from another country will trust the Residency Hotel even though they have not been there only because of the mother brand the – ‘International Hotels’ group. This is one instance of brand management and is placed under Brand Management Architecture.

An established brand will find favor among consumers who will be willing to trust a new product under the same brand without many questions being asked. This is why corporate houses spend millions of dollars annually promoting their brand all over the world.

Brand theft is a very disturbing activity. This is why almost every company has a department looking out for infringement of their brand. The Internet is a wonderful tool when it comes to promoting a brand and it is also a wonderful tool for crooks to use a well-known brand to market their products and services by simply modifying a brand name or logo to attract consumer attention.

How Do I Build My Brand in My Niche?

If you’re ready for your name to be the one people immediately call to mind when they think of your niche you’re going to have to do some branding. The good news is online branding is much easier than ever before. The advent of social media has made it possible for anyone to build their brand. Let’s look at a few ways you can begin building your brand today.

Blog

If you don’t already have one, you need to start. A blog allows you to produce quality content on your niche subject. It also allows you to create a community of people interested in your content or niche. It will also allow people to get to know you, via comments on the blog and your interaction there.

Forums

Look for active forums in your niche. Find forums that have a lot of activity. The activity level is more important than the number of members a forum has. A small but active forum is going to be more beneficial to you than a large but dead one. Once you’ve joined the forum take some time to get to know the place. Don’t just jump in. See who the players are, who has been there a long time, figure out what the rules. Once you’ve figured these things out begin to participate. Be an active member of the community. Don’t throw links to your site out, don’t ask people to go to your site. Answer questions, give feedback, better yet, each week write an article ~ specifically for this forum and post it as a new thread. The great content will get you noticed and will often times make people more curious about you. Which brings me to your signature. This is how people will find your site. Create a catchy signature file ~ it will automatically display at the bottom of each post. The more you do this and the more consistently you do this the better. This will help you immensely in becoming the “go to” person in your niche.

Twitter

Set up a Twitter account if you don’t already have one. Begin looking for people who are interested in your topic. Talk to them, create conversations. Give them great links to more information about your niche. Invite them to events you may host on your niche topic. These things will get people to follow you and will help you build your brand in your niche.

Facebook

Set up a Facebook fan page for your blog. This is a place you can continue to provide even more information and value on your niche topic. You can also engage in conversations and let people get to know you better. The more people know you the more they will trust you. This is a key element in building your brand. People have to have the opportunity to know like and trust you.

The Benefits of Non-Profit Branding

To the uninitiated, branding is synonymous to the image of a logo. Yet, branding is much more than a logo. What then, is branding? “Branding is endowing products and services with the power of a brand” (Kotler & Keller, 2015). One can clearly tell from this definition that branding is much more than a logo, a website or a brochure.

In times past, non-profits adopted the concept of branding mainly for fundraising purposes. Today, branding has evolved beyond fundraising purposes and offers the following benefits:

1). Builds Trust

An effective branding strategy that communicates the impact of a non-profits work engenders trust. By sharing its’ activities and progress, people become aware of the role the non-profit plays in its’ community. With the trust earned, a non-profit can easily garner support for its’ causes.

2). Advocacy / Expanded Support Base

Once people become aware of a non-profits’ work, it becomes easier for them to connect with its’ brand. Consequently, they not only become loyal adherents of the non-profit but they also become its’ advocates. This can serve the non-profit in many ways. For instance, success stories shared on a non-profit’s social media page can be re-posted by loyal adherents and shared with their friends. Such activities have the power of expanding a non-profit’s support base since a wider audience is reached through the act of sharing.

3). Increased Funding Opportunities

A strong brand improves the rate of success of a non-profits’ funding endeavors. By creating a positive brand image, it becomes easier to engage favorably with funders and stakeholders alike.

4). Facilitates Partnership Formation

A strong brand makes it easier for a non-profit to forge meaningful partnerships. The ability to collaborate with other organizations enhances a non-profits ability to implement projects that have a wider reach/scope. This in turn creates a favorable perception for the non-profit and influences its’ fund-raising potential.

5). Reflects a Non-Profit’s Identity

According to Nathalie Kylander & Christopher Stone (Spring 2012 Blogpost), a ” brand embodies the identity of the organization, encapsulating its mission, values, and distinctive activities”. In essence, a thoughtfully planned and executed brand image will convey the ideals of a non-profit to its’ constituents and the general public in an effective manner. It will aid in reflecting the unique value proposition of a non-profit while differentiating it from other entities.

Thus, its’ constituents and the general public will be in a position to familiarize themselves with the vision of the non-profit while keeping track of its’ achievements. As a result, the process of nurturing relationships with supporters(such as volunteers) and sympathizers to its’ cause while entrenching its’ position will be greatly improved.

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